The price of Silver
has fluctuated some over recent months but it remains at levels that make it an
attractive mineral for prospecting attention. As of Nov 3 Silver made gains of
0.8 percent, to $34.48 per ounce.
Silver has always
been seen as a favourite mineral in the prospecting community; while not as
exciting as Gold or PGM's it still is an attention getter when discovered. The
grade needs to be higher than more expensive precious metals like gold, but
having lesser amounts as by-products in lead, zinc and copper deposits
certainly adds value to the overall ore.
The three silver
hotspots in the world are Mexico, Peru and China. These countries boost the
best grades and annual production of silver in the world. In 2010 Mexico
produced 129 million ounces, Peru put out 116 million ounces and it is
estimated that China produced over 99 million ounces.
Numerous companies
mine and explore for silver in many regions of the world, some focused entirely
pure silver mines yet many others have silver as a valuable metal in poly-metallic
mineral deposits. In many cases the
silver is not the primary metal being mined however its content serves well to
create additional income and in increasing the overall value per tonne of ore
mined.
While it would be
great to be able to prospect for and find a viable silver mine, finding one may
be a challenge in any location these days. What may be more valuable to the
prospector is working on some base metal occurrences and reviewing them for their
potential of also hosting silver as a by-product metal. This may add greater
value to a marginal deposit of lead, zinc, copper etc. So it is something that
you should assay for if it hasn't already been checked. Even in gold and other
mineral deposits it is always a good idea to run a couple of assays for silver
and for that matter numerous metals.
Most assay labs offer
lower cost ICP type analysis that cover up to 30 or more elements, and you
should always have a couple of those done on any mineral indications you find.
It will provide a base level idea of the composition and allow you to focus
future assay work and finances.
Happy Prospecting!
Top 20 Silver
Producing Countries in 2010
(millions of ounces)
1. Mexico 128.6
2. Peru 116.1
3. China 99.2
4. Australia 59.9
5. Chile 41.0
6. Bolivia 41.0
7. United States 38.6
8. Poland 37.7
9. Russia 36.8
10. Argentina 20.6
11. Canada 18.0
12. Kazakhstan 17.6
13. Turkey 12.3
14. Morocco 9.7
15. India 9.7
16. Sweden 9.2
17. Indonesia 6.9
18. Guatemala 6.3
19. Iran 3.4
20. South Africa 2.8
Source: http://www.silverinstitute.org
